Solna (NASDAQ: SLNH) Holdings has acquired full possession of one other portion of its flagship Texas campus, persevering with its broader efforts to remodel the Bitcoin mining advanced into an AI and high-performance computing website powered by proprietary renewable power.
This text first appeared on The Vitality Magazine. The unique article will be discovered right here. The Vitality Magazine (previously The Miner Magazine) offers information, information and perception on the nexus of power, computing and markets.
The corporate introduced Tuesday that it has bought the remaining 49% fairness curiosity in Mission Dorothy 1B from Navitas World for roughly $8.8 million, giving Soluna full possession of the 25-megawatt facility in Silverton, Texas.
The deal is the most recent step within the consolidation of the Dorothy Campus, following Solna’s $53 million acquisition of the Brisco Wind Farm and its earlier $16.5 million acquisition of Mission Dorothy 1A.
With the Brisco wind farm offering 150 megawatts of owned renewable energy and Soluna now controlling 100% of each Dorothy 1A and 1B, the corporate has created what it describes as a totally built-in “era to compute” possession chain throughout the 50 megawatt Dorothy 1 advanced.
CEO John Belizea stated the acquisition offers Soluna larger flexibility in how and when to transition its campuses to AI infrastructure.
“Finishing the acquisition of Dorothy 1 is a crucial step in our broader roadmap towards constructing Dorothy 3 for AI and high-performance computing,” Berizaia stated in a press release.
The Dorothy Campus presently operates roughly 100 megawatts throughout three phases. Dorothy 1A is a 25 megawatt Bitcoin mining internet hosting facility, whereas Dorothy 1B operates at 25 megawatts devoted to its personal mining. Dorothy 2 is contributing a further 48 megawatts, primarily to the internet hosting enterprise, with Spring Lane Capital remaining an investor.
Earlier this month, Belizaia instructed TheEnergyMag that Soluna plans to maneuver current mining prospects from Dorothy 1A to different amenities in its portfolio as a part of a long-term plan to remodel the campus for AI and HPC workloads.
The corporate stated it’s “bifurcating” its enterprise by separating its Bitcoin mining and AI infrastructure into completely different websites, and that its future Bitcoin operations will deal with internet hosting somewhat than increasing its personal hashrate.
Soluna stated full possession of Dorothy 1 is required earlier than the following section of the campus, Dorothy 3, will be offered to potential AI tenants. The corporate can also be actively evaluating alternatives associated to Dorothy 2 as a part of its broader campus technique.
The transaction was absolutely funded with money on the stability sheet and closed on Might nineteenth.
The transfer comes as extra Bitcoin miners look to repurpose current energy infrastructure for AI and high-performance computing as mining profitability continues to come back underneath strain. Trade hash costs have hovered close to traditionally compressed ranges in latest months, prompting carriers to pursue extra steady, long-term income streams associated to AI workloads.
Soluna’s broader improvement pipeline presently exceeds 4.3 GW, together with greater than 1 GW throughout improvement, development and operations tasks.
This text first appeared on The Vitality Magazine. The unique article will be discovered right here. The Vitality Magazine (previously The Miner Magazine) offers information, information and perception on the nexus of power, computing and markets.
